Harsh Mariwala rallies Marico behind brands and purpose in race to double revenues

Harsh Mariwala, Chairman of Marico, told shareholders in the company’s latest annual report that the homegrown FMCG giant remains focused on “long-term growth, digital acceleration and stakeholder-centric transformation” as it navigates macroeconomic uncertainty and cost pressures across markets.

“In the year under review, your Company’s performance across all key performance parameters was encouraging,” Mariwala said, pointing to the milestone of crossing ₹10,000 crore in revenues as “a reflection of the strength of our brands” and the “unwavering commitment of our people.”

Marico, whose brands like Parachute, Saffola and Nihar Shanti occupy leading positions in hair oils, cooking oils, and personal care, is now aiming to double its revenue to ₹20,000 crore by 2030. The company’s roadmap rests on “innovation, purposeful brand building, and operational excellence,” Mariwala said.

The consumer goods major is sharpening its competitive edge through “category leadership, premiumisation and market expansion,” with disciplined execution, while continuing to leverage its “three core assets—our brands, our talent, and our culture, as key enablers of long-term value creation.”

Brand Building with Purpose

Purpose-led brand building remains central to Marico’s growth strategy. The Nihar Shanti Pathshala Funwala initiative, which leverages the brand’s equity to support education in government schools, has “positively impacted over 11 lakh students and over 50,000 active teachers,” Mariwala said, illustrating how brands can “create meaningful societal impact.”

Similarly, the Parachute Kalpavriksha Foundation, aligned with Marico’s flagship hair oil brand, continues to empower coconut farming communities with training and resources for sustainable farming, reaching over 1.22 lakh farmers across 4.33 lakh acres.

“Our unwavering commitment to People, Planet and Profit continues to shape our decisions and inform our culture at every level,” Mariwala said, highlighting how Marico sees sustainability not just as a compliance requirement but as a brand differentiator.

Innovation and Digital as Growth Engines

“Innovation remains a vital lever in the pursuit of purposeful growth,” Mariwala noted, detailing how the Marico Innovation Foundation (MIF) is nurturing high-impact ventures in clean technology, sustainable materials, and agricultural innovation.

On the operational front, Marico is accelerating its adoption of digital and data-led processes across functions to ensure agility in a volatile market environment. The company is also embedding ESG goals into its enterprise risk management frameworks, while initiatives like its Jalashay water conservation program and circular economy goals for recyclable packaging link directly to brand promises around health and sustainability.

A Future-Ready Organisation

“As we navigate an increasingly dynamic and unpredictable operating environment, our ability to remain future-ready, agile, and resilient has never been more critical,” Mariwala said. The company’s digital transformation and culture-building initiative, ‘The Marico Way,’ are designed to align employees with purpose and strengthen execution capabilities to keep pace with evolving consumer needs.

While Marico celebrates crossing a major revenue milestone, its chairman’s letter makes it clear the next phase will be driven by bold bets on brand-led societal transformation, marketing-led premiumisation, and digital-first operational models, even as consumer sentiment remains volatile in key markets.

“Together, we are building a future-ready organisation—agile, resilient and aligned with the evolving needs of our stakeholders,” Mariwala said, striking an optimistic note for the road to ₹20,000 crore.

Read more: Marico’s Saugata Gupta doubles down on brand building, digital play in push to Rs20,000 crore